Pagaya Q3 revenue rises 12%, net income more than doubles
PGY•PGY•PGY•PGY•Pagaya's third-quarter revenue rose 12% year over year to a record $390 million, while net income more than doubled to $50 million. The company raised its full-year 2026 GAAP net income guidance to $162 million-$182 million.
Pagaya reported third-quarter revenue of $390 million, up 12% year over year, and net income of $50 million, more than double the year-earlier figure. Adjusted EBITDA rose 22% to $130 million.
Network volume increased 29% year over year, driven by growth in Auto and Personal Loan verticals and a focus on underwriting. Pagaya attributed revenue growth to higher fee revenue and interest income, and said adjusted EBITDA growth benefited from FRLPC growth and operating leverage. For the fourth quarter, it expects network volume of $2.961 billion-$3.261 billion and adjusted EBITDA of $117 million-$137 million.
